SHAH ALAM, July 22 — The inability of young people to own homes is not solely due to low incomes.
Instead, according to Dr Rohayu Majid, a senior lecturer at Universiti Teknologi MARA’s (UiTM) Faculty of Built Environment, spending patterns are among the main factors influencing their decision to buy a house.
Dr Rohayu said many young people still prioritise spending on vehicles, gadgets and entertainment over building savings to purchase a home.
She said studies on spending patterns showed that some individuals with moderate incomes were still able to buy homes because they practised consistent and disciplined saving habits.
“On the other hand, there are also those earning between RM7,000 and RM8,000 a month who still do not own homes because their spending is more focused on lifestyle and entertainment.
“It is not simply a matter of affordability. Rather, it depends greatly on awareness and spending habits. Some understand that a house is an asset whose value has the potential to increase over time.
“However, some young people choose to prioritise other things first,” she told Media Selangor.
Dr Rohayu said the age range of 25 to 35 is the best period to plan for buying a house, as most individuals have more stable careers and greater opportunities to accumulate savings.
She advised young people to set home ownership targets early, including identifying their preferred location and type of property, while planning their finances in a disciplined manner.
She added that many also lacked awareness of the various home ownership initiatives available, including the Housing Credit Guarantee Scheme (SJKP), which helps those with irregular incomes obtain financing of up to 100 per cent.
“Many young people actually have the potential to own a home before the age of 35. What matters is planning, saving discipline and the willingness to make slight changes to spending habits so that they are more balanced.
“Owning a first home is a realistic dream for young people. The opportunity is there, but they need to plan their finances wisely and make full use of the facilities available,” she said.
